Question 8 (1 point) Listen Junior's Sporting Goods sells camping equipment and outdoor gear. The company is willing to sell a particular fishing pole for as little as $55. Its main competitor is Sporty Gear, which is willing to sell the fishing pole for as little as $35. The current market price of that type of fishing pole is $75. What is the total producer surplus for the two firms? Your Answer: Answer Question 9 (1 point) Listen Karen can make 1 jackets or 17 ties in one day working at the clothing factory. Joe can make 8 jackets or 32 ties in one day working at the clothing factory. What is Joe's opportunity cost of producing 1 tie? Round your answer to one decimal place. Be sure to enter the correct units for what they are giving up. Your Answer: Answer units
Question 8 (1 point) Listen Junior's Sporting Goods sells camping equipment and outdoor gear. The company is willing to sell a particular fishing pole for as little as $55. Its main competitor is Sporty Gear, which is willing to sell the fishing pole for as little as $35. The current market price of that type of fishing pole is $75. What is the total producer surplus for the two firms? Your Answer: Answer Question 9 (1 point) Listen Karen can make 1 jackets or 17 ties in one day working at the clothing factory. Joe can make 8 jackets or 32 ties in one day working at the clothing factory. What is Joe's opportunity cost of producing 1 tie? Round your answer to one decimal place. Be sure to enter the correct units for what they are giving up. Your Answer: Answer units
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Question 8 (1 point)
Listen
Junior's Sporting Goods sells camping equipment and outdoor gear. The company
is willing to sell a particular fishing pole for as little as $55. Its main competitor is
Sporty Gear, which is willing to sell the fishing pole for as little as $35. The current
market price of that type of fishing pole is $75. What is the total producer surplus
for the two firms?
Your Answer:
Answer
Question 9 (1 point)
Listen
Karen can make 1 jackets or 17 ties in one day working at the clothing factory. Joe
can make 8 jackets or 32 ties in one day working at the clothing factory. What is
Joe's opportunity cost of producing 1 tie? Round your answer to one decimal
place. Be sure to enter the correct units for what they are giving up.
Your Answer:
Answer
units
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